A1 Journal article (refereed)
Peer interaction and pioneering organizational form adoption : A tale of the first two for-profit stock exchanges (2022)
Cheung, Z., Gustafsson, R., & Nykvist, R. (2022). Peer interaction and pioneering organizational form adoption : A tale of the first two for-profit stock exchanges. Organization Studies, 43(8), 1223-1246. https://doi.org/10.1177/01708406211024570
JYU authors or editors
Publication details
All authors or editors: Cheung, Zeerim; Gustafsson, Robin; Nykvist, Rasmus
Journal or series: Organization Studies
ISSN: 0170-8406
eISSN: 1741-3044
Publication year: 2022
Publication date: 01/06/2021
Volume: 43
Issue number: 8
Pages range: 1223-1246
Publisher: SAGE Publications
Publication country: Germany
Publication language: English
DOI: https://doi.org/10.1177/01708406211024570
Publication open access: Openly available
Publication channel open access: Partially open access channel
Publication is parallel published (JYX): https://jyx.jyu.fi/handle/123456789/76519
Abstract
Building on a historical case study on the first two stock exchanges to adopt the now globally dominant for-profit organizational form, the Stockholm Stock Exchange in 1993 and the Helsinki Stock Exchange in 1995, we argue that interaction among socially proximate peers contributes to pioneering organizational form adoption within an industry, particularly when such forms are introduced by established organizations. Peer interaction can induce a search for technically efficient organizational forms through the sharing of collective experiences, the establishment of collective assumptions, and a joint search for solutions. Together, these factors contribute to the legitimization of novel organizational forms in the local setting before the adoption of the first instantiation of those forms. We propose a context-sensitive multilevel model of peer-interaction-induced pioneering organizational form adoption that considers shared macro environmental drivers, idiosyncratic local environmental drivers, and peer interaction as central social mediators between the two.
Keywords: stock exchanges; organisational changes; organisational research; organisational theories; institutionalism; innovation systems; comparative research; longitudinal research
Free keywords: organizational form; theoretical perspectives; institutional theory; comparative capitalism; comparative institutional analysis; national innovation systems; research design and data collection; historical; longitudinal qualitative
Contributing organizations
Ministry reporting: Yes
Reporting Year: 2022
JUFO rating: 3